Student Loans Eat Up 6% of the Average American's Monthly Income. Where Should the Rest Be Going?
Student loan payments are a major financial burden for many.
In fact, recent student loan debt statistics show that loan payments account for about 6% of the average American's monthly expenses. With the majority of Americans paying between $100 and $400 monthly, these loans represent a good portion of annual spending.
The big question is, if you're devoting so much of your money toward paying back your educational loan, what should you do with the rest of your cash?
Source Fool.com